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YONKERS, N.Y. -- Yonkers is looking to buy an MTA parking lot that belongs to New York City.

The City of Yonkers wants to purchase the land as part of its plan to develop around the Hudson River, but Yonkers Mayor Mike Spano said they got nowhere in talks with New York City until they threatened legal action. Yonkers plans to file legal papers to allow the Industrial Development Agency to buy the land, located at 59 Babcock Place, which has blocked previous development projects.

Yonkers officials value the parcel at $5.3 million, according to LoHud. An acquisition of the property could be finalized by mid-2018, according to LoHud.